Atonomi, the blockchain-based arm of IoT security provider CENTRI Technology, has announced the launch of the Atonomi Network, a crypto-security protocol that will enable advanced trust and identity validation for IoT devices for the first time.
Building on Ethereum technology, the Atonomi Network will provide an immutable blockchain-based identity and reputation service to secure the vast realm of IoT devices – ranging from home automation systems to smart-city infrastructure, to industrial sensors and controllers.
The project, backed by venture capital firm LaunchCapital, will also provide the security, identity validation, reputational trust, scalability and transaction processing speed required for billions of IoT devices to conduct trillions of device-to-device transactions.
“Building on years of CENTRI’s experience in security technology innovation and our relationships with large device manufacturers, the Atonomi Network’s protocol will create a secure ecosystem for autonomous device-to-device transactions,” Atonomi CEO Vaughan Emery said.
“IoT already enhances many aspects of our lives, but the current challenges that plague security, including the absence of identity validation and device trust mechanisms, impede the way we transact and interact. By verifying the identity of individual devices via the blockchain, the Atonomi Network will help the IoT reach its full potential for scale.”
In a release, CENTRI said the advantages of Atonomi Network include validated device identity, reputational tracking, an immutable blockchain-based ledger of things, interoperability across industrial and consumer devices, and a partner-focused extensibility model to enable broad adoption of the solution.
“We are focused on extensibility of the Atonomi Network so that vendors will be able to build distributed applications, known as DApps, using our protocol and secure infrastructure to meet the precise security needs of specialized verticals and custom use cases,” Mr. Emery said.
The Atonomi Network will help secure the IoT and its real-world applications. Homeowners, for example, can register smart home devices with the Atonomi Network to validate devices on the premise and help eliminate the risk of hackers accessing personal information. Electric cars can plan the next charging stop by monitoring the price and location of upcoming charging stations, and make the payments autonomously.
Within industrial IoT, the Atonomi Network can protect against hackers gaining control of the sensors, controllers, and other devices that regulate the operation of essential infrastructures, such as hydroelectric dams and utility grids.
The Atonomi Board of Advisors includes Andrii Zamovsky, founder of Ambisafe; Dr. Ulf Lindqvist, Program Director at SRI International; David Fragale, former Blockchain Lead at PricewaterhouseCoopers; David Jevans, CEO of CipherTrace; and Rob May, Co-Founder and CEO of Talla.
CENTRI is backed by more than $20 million USD from US venture capital investors.
For more information, visit Atonomi.io.